mathjak107
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 27, 2005
- Messages
- 6,208
That's not the way Federal estate taxes work. Federal Estate taxes are only on the amounts over the exclusion amount. For 2016 the exclusion amount is $5.45MM.
Can't speak for NY though.
yep , the federal is the way it should work but this isn't what new york went and did .
it was an oversight at first in the wording in the rush to do this but they left it in place as is